Protective Coatings Market
                     Protective Coatings Market Opportunities, Drivers, Manufacturers, Analysis and 
Forecasts Till 2026
Global Protective Coatings Market – Insights
A protective coating is a layer of material, which is applied on the surface of another material
with the aim of preventing  or inhibiting corrosion. Protective  coating can be classified  into
metallic  and  non-metallic  coatings.  Commonly  used  materials  in  metallic  protective  coatings
include  aluminum,  zinc,  and  chromium,  whereas,  non-metallic  protective  coating’s  material
include epoxies, polyurethanes, and polymers. Protective coatings find applications in consumer
products as well as in heavy machinery, marine, and oil & gas industry, etc.
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Major players operating in the global protective coatings market include Akzo Nobel N.V., The
Valspar Corporation, PPG Industries, Inc., Arkema Group, Kansai Paint Co. Ltd, The Sherwin-
Williams Company, Sika AG, Wacker Chemie AG, Hempel A/S, and Jotun.
Increased investment by leading players in developing regions, owing to low labor cost, less
stringent  environmental  regulations,  and cheap manufacturing  costs  is  expected  to  boost  the
production for protective coatings market. For instance, in June 2015, Axalta Coating Systems
Ltd.  announced establishment  of  a new waterborne coatings  facility  in  Wuppertal,  Germany,
which  was  in  line  with  the  company’s  strategy  to  provide  a  sustainable  coating  solutions.
Furthermore, in December 2014, PPG Industries, Inc. completed expansion of its Cheonan, South
Korea, facility, which cost around US$ 12 Mn, and enabled increased production capacity of
waterborne coatings. Increased adoption of water-based coatings as compared to solvent-based
coatings is likely to drive the demand for water-borne segment in the near future.
Factors such as volatility of raw material costs along with low replacement rate of solvent-based
coatings is expected to hinder growth of the market in the near future. The major raw materials
used in paints and coatings industry are pigments, solvents, binders, additives, and white urea,
with raw materials accounting for around to 49% of total costs. Growth of the global protective
coatings market is affected by various macroeconomic factors and price fluctuations of crude oil
and logistics costs. This scenario is likely to have adverse impact on the growth of protective
coatings market over the approaching years.
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The global protective coatings market was valued at US$ 16.39 Bn in 2018, and is expected to
register a CAGR of 8.7%, in terms of revenue over the forecast period (2019-2027), to reach US$
34.81 Bn by 2027.
Solvent-based coating gives more resilient finish than waterborne and powder-based coatings,
making it easier to wipe. However, it tends to become brittle as the coating ages. Solvent-based
coating provides high block resistance, i.e., when two painted surfaces come into contact, they do
not  stick  to  each other  and are  more tolerant  to  adverse  weather  conditions  such as  high
humidity during the drying period. Owing to advantages offered by the solvent-borne coatings,
the demand for solvent-borne coatings is expected to boost in the near future.
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